1. Why do we need probability? Discuss the concepts of mutually exclusive events and independent events. List three examples of each type of events from everyday life. Discuss what is meant by the expected value and standard deviation of a binomial distribution. How does this relate to the central tendency and variation we learnt in chapters 3, 4 and 5 of the course textbook.2. Discuss what we mean by a binomial experiment. As you can see, a binomial process or binomial experiment involve a lot of assumptions! For example, all the trials are supposed to be independent and repeated under identical conditions. Is this always true? Why? Can we always be completely certain the probability of success does not change from one trial to the next?Note: Your initial post will be your answer to the Question and is to be 600 words with at least two references. Initial post will be graded on length, content, grammar and use of references. References should always be below each question as they are a different topic and not related in any way.References:Exploring Statistics: Tales of Distributions by Chris Spatz
Why do we need probability?
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